Senator Warren warns that the CLARITY Act may allow TSL and Meta to evade SEC regulation | Risks of arbitration in crypto industry regulation attract follow-up

🔍 Core Controversy: The “CLARITY Act” May Undermine SEC Regulatory Authority

U.S. Senator Elizabeth Warren has raised serious concerns about the CLARITY Act, (, currently under review in the House of Representatives. This bill could allow publicly traded companies like Tesla and Meta to circumvent U.S. Securities and Exchange Commission (SEC) regulation through asset tokenization. Warren warned at the Senate Banking Committee hearing: “Under this bill, publicly traded companies like Meta or Tesla could simply put their stocks on the blockchain—poof!—and completely escape SEC oversight.” She emphasized that this would undermine the integrity of financial markets and jeopardize investor protection mechanisms.

) ⚠️ The regulatory loophole risk of tokenized securities

• Avoid existing regulations: Warren pointed out that the bill could allow companies to use blockchain technology to circumvent SEC rules designed to ensure fair and transparent markets, undermining the cryptocurrency regulatory framework.
• Market Manipulation Risks: In an environment lacking SEC oversight, companies may evade scrutiny through security token offerings, increasing the systemic risks in the crypto market.
• SEC Commissioner Responds to Controversy: Although SEC Commissioner Hester Peirce clarified that tokenized securities are still subject to federal securities laws, Warren insists that the bill has regulatory arbitrage opportunities.

( 💡 Ripple CEO calls for the establishment of an intelligent regulatory framework

Ripple CEO Brad Garlinghouse argued during the hearing:

• The current uncertainty in digital asset regulation has caused market turmoil, and the United States urgently needs to establish a clear compliance path for cryptocurrencies. The “smart regulatory framework is the cornerstone for the future development of the crypto economy, related to the United States’ leadership position in the blockchain competitive landscape.” It emphasizes that a regulatory model that balances innovation and protection is crucial for the healthy development of the Web3 ecosystem.

) 🎯 Political lobbying and conflict of interest allegations in the cryptocurrency industry

Warren further questioned the potential利益输送 behind the legislation:

• Influence of Government-Business Relations: Criticism of Republican lawmakers promoting loose cryptocurrency regulation policies, specifically naming companies like Meta for their intentions to evade regulation regarding the issuance of corporate stablecoins.
• Trump Family Involved in Secrets: Exposing the Trump family business “World Freedom Finance” venturing into the crypto space by issuing Trump-themed Meme Coins and participating in DeFi projects.
• Regulatory Independence Crisis: It is particularly noted that Trump’s personal cryptocurrency holdings have profited over $620 million, which may lead to regulatory agencies compromising with the cryptocurrency lobbying group.

🔥 Potential Impact on the Cryptocurrency Industry

1. Regulatory arbitrage opportunities If the bill passes, traditional enterprises may bypass SEC scrutiny through equity on-chain, giving rise to new types of security token compliance disputes.
2. Regulatory Divergence Intensifies The conflict between the SEC and legislative bodies over tokenized asset jurisdiction may lead to fragmentation of cryptocurrency regulation in the United States.
3. Market Risk Transfer Listed companies’ on-chain stock issuance may transmit traditional market risks to the crypto ecosystem, triggering cross-market volatility transmission.
4. DeFi Regulatory Ripple Effect The provisions of the bill regarding asset tokenization may reshape the regulatory logic of decentralized exchanges, affecting the compliance of on-chain securities transactions.

🚨 Crypto Investor Alert • Pay attention to the legal recognition of security token exchanges in the legislation. • Beware of the regulatory arbitrage risks caused by the stock tokenization of listed companies. • Assessing the long-term impact of U.S. cryptocurrency legislation on products such as Bitcoin spot ETFs.